Financial Planning

Comprehensive Financial Planning and Coaching

This is a retainer fee engagement designed for those who are in need of a plan as well as assistance over the course of the year. We create your foundation (your plan) and work with you to ensure various steps or action items are accomplished.

We will cover topics such as:

Goal creation and prioritization

A personalized spending and saving plan

Planning for big-ticket items (your wedding, a new car, your first home, etc.)

Debt repayment

Tax planning (including maximizing your deductions)

Company benefits

Planning for career changes (starting your own business, one parent decides to stay at home, etc.)

Estate planning needs

Insurance coverage

What’s included?

A 90-minute initial meeting in person (for those in the Chicago area) or via telephone/Skype where we get clear on your financial goals and values, what your current financial picture looks like, and what current limitations or hurdles you are facing.

A 60-minute delivery call about a month later with your financial planning recommendations, actions items, and prioritized “to-do” list. This call is scheduled at the end of the first meeting.

A 60-minute check-in phone call within one month of recommendation delivery.

Ongoing check-ins for accountability, encouragement and to address changes along the way.

You’ll receive unlimited email support from me to help you implement the planning recommendations. After our plan delivery call I will be checking in with you every 1-2 months, but feel free to reach out by email as things come up.

Tax return preparation is included in monthly retainer fee engagements.

I’m available to help you in opening and maintaining an investment account at the custodian of your choice, and will provide portfolio allocation adjustments when necessary.

For comprehensive financial planning and coaching, I charge an upfront fee of $1,000 to $3,000 and a monthly fee of $100 to $300 per month. Both fees are determined by the complexity of your situation, the time committed to developing the plan, number of action items and investment accounts involved, etc., and will be detailed in your agreement.

I do not receive commissions, referral fees, or any other incentives for selling financial products. This eliminates any conflicts of interest – I do what is best for you.

Quick Start Session

Not ready to create a full-blown financial plan? Or just want answers to a few questions? A Quick Start Session might be the perfect fit. It includes:

30 minute introductory meeting

60 – 90 minute meeting to go into more detail about your situation

In-depth advice on 2-3 of your most pressing financial questions

A one-two page pdf, highlighting my recommendations and specific action steps you can take to start making progress

Upon presentation of the final plan, the client will have unlimited email access for one month.

The cost for a QuickStart Session is a one time up-front fee of $500. (Cost of $500 based on four hours of work at my hourly rate of $150/hour with a $100 discount.) If you decide later on you want to subscribe to the comprehensive Brightwater Financial planning and coaching program, your QuickStart fee will be applied towards your initial planning fee.

Financial Planning Hourly Fee

I offer both hourly and project-based planning for people who would like help with one or more specific topics but aren’t interested in creating a full financial plan. Hourly planning is offered at $150 per hour, billed in 15 minute increments with partial increments (e.g., 5 minutes) being treated as whole increments. Project-based work is quoted based on the scope of the project.

Some examples of projects we might tackle on this basis are:

Determining life insurance needs and purchasing a policy

Opening college savings accounts

Creating a debt repayment plan

Any other specific topics you’d like to address

Prior to entering into an agreement with Brightwater Financial, you will receive an estimate of the overall cost based on your requirements and the time involved. I require a deposit equal to one‐half the total estimated fee to initiate the project, and the remaining amount will be due upon delivery of our invoice which coincides with the delivery of your plan or advice.

Discuss options available and an action step you can take immediately to improve your current situation.

If we both decide it’s a good fit, I’ll send you a questionnaire so you can tell me more about your biggest questions and your current financial situation. Our first meeting will be spent reviewing that information together so we can set clear goals and priorities.